THDC India — a joint venture firm set up by the government of India and the government of Uttar Pradesh in order to develop hydro power projects — is reportedly planning to enter the solar energy market.
According to Business Standard, the company is in negotiations with the government of Uttar Pradesh for the construction of PV plants with a total capacity of 100MW in the Indian state. The projects would require an investment of INR800 crores (US$144 million).
The Indian news site also revealed that the company is due to enter a supply agreement with the state-owned Bharat Heavy Electricals Limited (BHEL) for solar panels as well as other PV components.
Similar to a number of other states in India, the state of Uttar Pradesh is keen to push forward plans to generate more electricity from renewable sources, in particular solar. At the end of 2012 the state published a draft version of its Solar Power Policy which covers PV plants with a minimum capacity of 5MW. Under this policy, the state is targeting a total capacity of 500MW of grid-connected PV by March 2017.